Amazon.com (AMZN) is currently trading at a new all-time high at just under $725/share.  Since making an intraday low of $474 on February 9th, the stock has soared 53%.

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A gain of 53% in less than four months is remarkable, and you usually only see those type of moves in smaller-cap stocks.  Amazon (AMZN), however, has made this move as one of the ten largest stocks in the U.S.  In fact, as of this morning, AMZN ranks as the sixth largest company in the S&P 500.  Sandwiched in between Berkshire Hathaway (BRK/B) at $348.4 billion and Facebook (FB) at $340.9 billion, AMZN’s market cap currently sits at $342 billion.

Below is an updated look at the 30 largest stocks in the S&P 500.  Slowly but surely, big Tech companies have come to dominate the top of the list.  The three largest stocks are all in the Tech sector (AAPL, GOOGL, MSFT), and Amazon (AMZN) and Facebook (FB) rank sixth and seventh.  While AMZN is officially a Consumer Discretionary name, we view it as a Tech company just as much.  Meanwhile, Wal-Mart (WMT) — Amazon’s bricks and mortar competitor — has seen its market cap drop from $249 billion down to $222 billion over the last three years, ranking as just the 13th largest company in the S&P right now.

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